Quantbot Technologies LP Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Quantbot Technologies LP acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,564 shares of the real estate investment trust’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 93 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Mid-America Apartment Communities by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 89,290 shares of the real estate investment trust’s stock valued at $14,188,000 after acquiring an additional 1,308 shares during the period. Truvestments Capital LLC boosted its position in shares of Mid-America Apartment Communities by 1.3% in the third quarter. Truvestments Capital LLC now owns 19,093 shares of the real estate investment trust’s stock valued at $3,034,000 after acquiring an additional 249 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Mid-America Apartment Communities by 1.4% in the third quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock valued at $962,000 after acquiring an additional 82 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Mid-America Apartment Communities by 458.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,085 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 3,354 shares during the period. 93.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MAA shares. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $174.00 in a research note on Monday, August 26th. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price target for the company. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a research note on Monday, October 21st. Finally, Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Stock Down 0.6 %

Shares of NYSE MAA opened at $160.04 on Thursday. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The business has a 50-day simple moving average of $156.63 and a two-hundred day simple moving average of $150.52. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market cap of $18.71 billion, a P/E ratio of 36.13, a P/E/G ratio of 2.61 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 EPS. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.67%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.